Most actively traded companies on the Toronto Stock Exchange

TORONTO – Some of the most active companies traded Thursday on the Toronto Stock Exchange:

Toronto Stock Exchange (21,250.41, down 5.23 points.)

Suncor Energy Inc. (TSX:SU). Energy. Down 31 cents, or 0.8 per cent, to $39.21 on 25 million shares.

Cenovus Energy Inc. (TSX:CVE). Energy. Down 52 cents, or 2.6 per cent, to $19.49 on 10.4 million shares.

BCE Inc. (TSX:BCE). Telecommunications. Up $1.18, or 1.73 per cent, to $69.37 on 10.3 million shares.

Kinross Gold Corp. (TSX:K). Materials. Down 18 cents, or 2.6 per cent, to $6.70 on 9.4 million shares.

Enbridge Inc. (TSX:ENB). Energy. Up 26 cents, or 0.5 per cent, to $56.33 on 8.9 million shares.

Athabasca Oil Corp. (TSX:ATH). Energy. Down 10 cents, or 4.8 per cent, to $1.99 on 8.6 million shares.

Companies in the news:

SNC-Lavalin Group Inc. (TSX:SNC). Down 42 cents or 1.5 per cent to $28.19. SNC-Lavalin Group Inc. felt the fallout of the COVID-19 pandemic last quarter, as sick workers and supply chain woes stalled projects in a development that couldpile on millions more dollars in losses. After three straight quarters of profits, the engineering firm swung to a loss of almost $53 million in the quarter ended Dec. 31, surprising analysts, who called the financial results “weak” and “messy.” Under CEO Ian Edwards’ stewardship since June 2019, SNC-Lavalin has shifted its focus to engineering services and away from so-called lump-sum turnkey (LSTK) projects — fixed-price contracts under which companies have to eat any cost overruns. SNC’s engineering segment churned out sturdy numbers in the fourth quarter, accounting for 89 per cent of its nearly $2-billion revenue. It yielded an organic growth rate of nearly 12 per cent and a $10.9-billion backlog. SNC-Lavalin reported a net loss of $52.9 million in its fourth quarter — despite a $93-million win in an arbitration decision — compared with a loss of $702.7 million in the same period a year earlier. Revenue totalled $1.94 billion in the quarter, up from nearly $1.70 billion the year before.

Canadian Natural Resources Ltd. (TSX:CNQ). Down 33 cents to $72.49. Canadian Natural Resources Ltd. is not betting the bank on a sustained oil price boom, even as Russia’s invasion of Ukraine has sent benchmark crude soaring to triple-digit territory this week. CNRL president Tim McKay said it’s difficult to predict where oil prices will end up given current geopolitical turmoil that is spurring market fears of an interruption to global supply. The benchmark crude price West Texas Intermediate (WTI) spiked just short of US$117 per barrel in intraday trading on Thursday, but McKay said most Canadian oil producers are watching the soaring prices with a “very prudent, longer-term perspective.” Calgary-based CNRL raised its quarterly dividend by 28 per cent Thursday — as it reported fourth-quarter profits surged to $2.53 billion in the quarter ended Dec. 31, up from $749 million a year earlier. Revenue in the quarter totalled $9.21 billion, up from $5.02 billion a year earlier, as production in the quarter averaged 1,313,900 barrels of oil equivalent per day, up from 1,201,198 in the same quarter a year earlier.

Crescent Point Energy Corp. (TSX:CPG). Down 24 cents or 2.5 per cent to $9.22. Crescent Point Energy Corp. reported strong results from its recently acquired Kaybob Duvernay assets in Alberta, along with soaring profits helped by higher oil and gas prices. The Calgary-based oil producer reported Thursday a fourth-quarter profit of $121.6 million, or 21 cents per share, compared with a loss of $51.2 million or 10 cents per share one year ago. The company’s oil and gas sales totalled $900.4 million, up from $447.8 million in the fourth quarter of 2020. Crescent Point said production in the quarter averaged 130,407 barrels of oil equivalent per day, up from 111,217 a year earlier. The company’s average selling price was $75.05 per barrel of oil equivalent, up from $43.76 in the fourth quarter of 2020. Crescent Point said it now expects to generate free cash flow of approximately $1.1 billion in 2022, and will meet its near-term net debt target in the next six months at current commodity prices. The oil producer is exploring disposition opportunities for certain non-core assets, management said Thursday.

TD Bank Group. (TSX:TD). Down $3.19 or 3.1 per cent to $98.30. TD Bank Group wrapped quarterly bank earnings season by joining the rest of the Big Six in beating expectations, though analysts note its performance lagged in some areas compared with peers. The bank on Thursday reported a first-quarter profit of $3.7 billion, up from nearly $3.3 billion a year earlier, boosted by the strength of its Canadian and U.S. retail banking operations. Most Canadian banks have beaten expectations thanks to unexpected boosts to trading revenue as markets were volatile ahead of expected rate changes. The bank said its profit amounted to $2.02 per diluted share for the quarter ended Jan. 31, compared with $1.77 per diluted share in the same quarter a year earlier. Revenue totalled nearly $11.3 billion, up from $10.8 billion. On an adjusted basis, TD says it earned $2.08 per diluted share, up from an adjusted profit of $1.83 per diluted share a year ago. Analysts on average had expected an adjusted profit of $2.04 per share, according to financial markets data firm Refinitiv.

This report by The Canadian Press was first published March 3, 2022.